SEOUL—South Korea on Monday named Korea Aerospace IndustriesLtd. as the preferred bidder of a multibillion-dollar deal to develop a new fighter jet.

The deal is part of one of South Korea’s most ambitious weapons development programs. The project, known as KF-X, short for Korean Fighter Experimental, is part of Seoul’s plans to replace a decades-old fleet of F-4s and F-5s. Read More »

How is a smartphone maker to stand out in a market of black rectangular slabs with increasingly similar hardware specifications?

If you’re LG Electronics, the answer involves more color and more whimsy.

Last year, South Korea’s LG — the world’s No. 6 smartphone maker — quietly released a series of smartphones dubbed AKA, calling it “the phone with a personality.” That point about personality is meant to be taken somewhat literally: each of the four phones has its own persona. The yellow Eggy smartphone, for instance, “falls frequently in love,” while the pink Yo-Yo edition “is always on a diet.” Read More »

SEOUL—The failure of a Swiss elevator maker to stop a Hyundai Group company from revising its rules to increase share capital has frustrated foreign investors who want changes to South Korea’s corporate governance.

Schindler Holding AG said Friday it voted against Hyundai Elevator Co.’s bid to triple the size of its authorized capital to 60 million shares. Despite the opposition, the plan was approved at the annual general meeting. Read More »

SEOUL—South Korea on Friday called for the release of two of its citizens detained in North Korea and denied Pyongyang’s accusation that they are spies.

North Korea’s state media said late Thursday that two South Koreans identified as Kim Kuk-gi and Choe Chun-gil had been gathering information on Pyongyang’s leadership under orders of the main South Korean spy agency. Read More »

Chinese consumers’ love affair with all things South Korea isn’t going unnoticed by some of China’s biggest companies. On Thursday, JD.com Inc., the country’s second biggest online retailer behind Alibaba Group Holding Ltd., said it would open an online mall dedicated to selling Korean goods to Chinese consumers — and get Korean products into Chinese consumers’ hands in a matter of days or even hours. Read More »

SEOUL—South Korea said Thursday it would join China’s planned development bank, the latest U.S. ally to sign up to an institution viewed with skepticism by Washington.

The move reflects warm ties between the Asian neighbors and Seoul’s desire for its companies to not miss out on projects funded by the new Asian Infrastructure Investment Bank, which has been steadily gaining members. Read More »

It’s no secret that South Korean cosmetics brands are a hot item in the Chinese-speaking world, riding a wave of buzz around Korean products that extends to music, dramas and fried chicken.

But there’s still lots of room to grow, says market researcher Nielsen. In a report published Wednesday, Nielsen found that six of ten consumers in China, Hong Kong, Taiwan and Singapore have only just “discovered” Korean beauty brands in the past two years. Of the respondents who bought Korean beauty brands, 40% were planning to spend more in the next months, the survey found. Read More »

SEOUL—A decision over whether to join China’s new development bank is a fresh test of South Korea’s ability to balance warming economic ties with Beijing and its security alliance with the U.S.

While analysts widely expect Seoul to join the Asian Infrastructure Investment Bank before the end of March, the deadline to become a founding member, it is weighing the economic benefits and “diplomatic circumstances,” a government official involved in the decision told The Wall Street Journal on Tuesday. Read More »

The drinking culture in South Korea has long centered on soju, a grain or sweet potato-based liquor. But that is starting to change as more South Koreans head abroad and bring back with them a taste for craft beers or fine whiskys. Read More »

About Korea Real Time

Korea Real Time provides sharp analysis and insight into what’s making news on the Korean peninsula. We chronicle the growing pains of South Korea — a country that has skyrocketed into the club of the world’s richest nations but now faces significant headwinds, and shine a spotlight on one of the world’s biggest geopolitical flashpoints: North Korea. Drawing on the expertise of The Wall Street Journal and Dow Jones Newswires, we’ll tell the stories behind the headlines in business, economics, politics, culture and lifestyle. You can contact the editors at korearealtime@wsj.com